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Nigerian E-Health Pharmaceutical Distribution Startup Drugstoc Secures $4.4 Million Series A Funding, Embarks On Expansion Drive

Nov 15, 2021•about 4 years ago

Amount Raised

$4.4 Million

Round Type

series a

Description

The pharmaceutical supply chain across Africa has for decades remained fragmented leading to sourcing and distribution challenges as well as quality concerns; as fake and substandard products flood the market. Yet, these issues facing the supply chain are fixable.

Company Information

Company

Drug Stoc

About

The startup plans to expand into 16 states within Nigeria as it moves to grow beyond Lagos, the economic hub of the West African country. This plan failed to take-off as it immediately became clear that a platform alone would not suffice. The startup earns a commission for every sale made.“When we started, I don’t think we ever had a doubt about the demand because we understood the scope of the problem. Drugstoc was founded in 2015 by Opara and Yehia, but its history dates back to 2010 when the duo founded Integra Health, a hospital management company based on Yehia’s master’s degree project. DrugStoc is currently on an aggressive expansion plan to deliver quality pharmaceutical products to 100 million people within Nigeria, having just closed a $4.4 million series A funding.